Gold rises despite the dollar trading near its highest level in a year

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Gold prices rose during Tuesday’s trading, despite the stability of the US dollar near its highest level in a year, and amid the follow-up to developments in the global economic recovery from the “Corona” pandemic.

ECB Chief Economist Philip Lahn stated that current inflation levels in the Eurozone are not a sufficient reason for the ECB to take action on monetary policy, as growth in services prices and wages remains subdued.

In terms of trading, gold futures contracts for December delivery rose by 0.3% at $1,761.20 an ounce during trading, and the spot price for the yellow metal increased by 0.4% to $1,761.55 an ounce.

Silver futures for December delivery fell 0.2% to $22.63 an ounce.

The spot price for platinum delivery rose 0.5% at $1016.72 an ounce, while the spot price of palladium declined by 0.5%, recording $2108.50 an ounce.

The main dollar index, which measures the performance of the US currency against a basket of six currencies, settled at 94.247 points.

Source: numbers

Article Gold is rising despite the dollar’s trading near its highest level in a year, which was written in Al Borsa newspaper.